Amcor PLC $AMCR Holdings Decreased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its position in shares of Amcor PLC (NYSE:AMCR) by 80.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,630 shares of the company’s stock after selling 429,307 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Amcor were worth $4,278,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AMCR. N.E.W. Advisory Services LLC raised its holdings in shares of Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after purchasing an additional 373 shares during the period. CYBER HORNET ETFs LLC boosted its holdings in shares of Amcor by 11.1% in the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock valued at $37,000 after buying an additional 447 shares during the period. FineMark National Bank & Trust grew its position in shares of Amcor by 0.6% during the 4th quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock valued at $671,000 after buying an additional 503 shares during the last quarter. United Asset Strategies Inc. grew its position in shares of Amcor by 1.6% during the 4th quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock valued at $321,000 after buying an additional 597 shares during the last quarter. Finally, AdvisorNet Financial Inc acquired a new stake in Amcor during the first quarter worth about $25,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

NYSE AMCR opened at $43.41 on Thursday. The company has a 50-day moving average price of $40.47 and a two-hundred day moving average price of $42.14. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The stock has a market cap of $20.07 billion, a price-to-earnings ratio of 30.36, a price-to-earnings-growth ratio of 1.21 and a beta of 0.62. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The business’s revenue was up 77.4% on a year-over-year basis. Analysts forecast that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Thursday, May 28th. Amcor’s payout ratio is 181.82%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Citigroup dropped their price target on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Truist Financial reissued a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective for the company. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Amcor presently has an average rating of “Moderate Buy” and an average price target of $48.56.

Amcor Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.